REAL ESTATE TERMS

All | A B C D E F G H I J L M N O P Q R S T U V
There are currently 9 names in this directory beginning with the letter T.
TAX LIEN
A charge against property created by the operation of law. Tax liens and assessments take priority over all other liens.

TITLE
A legal document evidencing a person's right to or ownership of a property.

TITLE COMPANY
A company that specializes in examining and insuring titles to real estate.

TITLE INSURANCE
Insurance designed to indemnify the holder for loss sustained by reason of defects in a title, up to and including the policy limits.

TITLE SEARCH
A check of the title records to ensure that the seller is the legal owner of the property and that there are no liens or other claims outstanding.

TRANSFER OF OWNERSHIP
Refers to transfer of a property’s deed and title from the seller to the buyer at closing.

TRANSFER TAX
State or local tax payable when title passes from one owner to another.

TRUSTEE
A fiduciary who holds or controls property for the benefit of another.

TRUTH-IN-LENDING
A federal law that requires lenders to fully disclose, in writing, the terms and conditions of a mortgage, including the annual percentage rate (APR) and other charges.